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Finance

Introducing Celgene, a Leading Biotech Company

Celgene was founded in 1986 by two scientists, David Stirling and Sol J. Barer. Following its IPO (initial public offering) in 1987, the company has consistently delivered breakthrough innovations in biotechnology.

In 1992, Celgene entered into a licensing arrangement with Rockefeller University to use the compound thalidomide. The drug was approved by the FDA (Food and Drug Administration) for the treatment of patients suffering from AIDS and cachexia, a body-wasting syndrome. Thalidomide (brand name Thalomid) proved to be a blockbuster therapy for Celgene, as it was also approved by the FDA for erythema nodosum leprosum, a leprosy-related complication, in 1998.

Celgene’s next successful drug was Revlimid, approved by the FDA in 2005 for patients suffering from myelodysplastic syndromes. In 2006, Thalomid’s indicative use was expanded, after the drug, in combination with dexamethasone, was approved as a first-line therapy for MM. Thalomid thus became the first oral therapy for MM. In the same year, the FDA also approved Revlimid with dexamethasone as a second-line therapy for MM, and over the next few years, Celgene received FDA approvals for other cancer-related drugs, such as Istodax, for T-cell lymphoma, Abraxane, for non-small cell lung cancer, and Pomalyst, for MM. In 2014, Celgene’s Otezla was approved as the first oral therapy for active psoriatic arthritis.

View more information: https://marketrealist.com/2015/08/investors-crash-course-celgene/

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